DEVON ENERGY CORP/DE DVN

Energy SIC 1311 - Crude Petroleum & Natural Gas NAICS Mining, Quarrying, and Oil and Gas Extraction › Oil and Gas Extraction derived NYSE

Founded in 1971 and publicly held since 1988, Devon (NYSE: DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and NGLs. Our operations are concentrated in various onshore areas in the U.S. Our principal and administrative offices are located at 333 West Sheridan, Oklahoma City, OK 73102-5015 (telephone 405-235-3611).

Our business strategy is focused on delivering a consistently competitive shareholder return among our peer group. Because the business of exploring for, developing and producing oil and natural gas is capital intensive, delivering sustainable, capital efficient cash flow growth is a key tenet to our success. While our cash flow is highly dependent on volatile and uncertain commodity prices, we pursue our strategy throughout all commodity price cycles with five fundamental principles.

Last close 51.39 2026-10-23
Market cap $56.53B 2026-06-30 share count
52-week range 31.65 - 52.71

Valuation FY2025 figures against the last close

P/S3.4x
P/E12.3x
P/FCF18.1x
EV/EBITDA—
Dividend yield—
Diluted EPS4.17

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $16.79B$15.92B$15.14B$19.83B$13.75B$4.67B$6.67B$8.44B$3.51B$2.77B
Cost of revenue ——————$2.81B$4.32B$3.56B$2.82B
Gross profit ——————$3.86B$4.12B-$46.0M-$49.0M
SG&A $492.0M$500.0M$408.0M$395.0M$391.0M$338.0M$475.0M$574.0M$645.0M$733.0M
Total operating expenses $14.51B$13.00B$11.48B$13.13B—————$15.09B
Operating income —————————-$2.90B
Pre-tax income $3.47B$3.71B$4.62B$7.78B$2.90B-$3.09B-$109.0M$944.0M$40.0M-$433.0M
Income tax $785.0M$770.0M$841.0M$1.74B$65.0M$547.0M$30.0M$230.0M$7.0M$141.0M
Net income $2.64B$2.89B$3.74B$6.03B$2.81B-$2.68B-$355.0M$3.06B$898.0M-$1.06B
EPS, basic 4.184.585.869.154.20-7.12-0.896.141.71-2.09
EPS, diluted 4.174.565.849.124.19-7.12-0.896.101.70-2.09
Shares, diluted (wtd. avg.) 633.0M634.0M642.0M653.0M665.0M377.0M401.0M497.0M520.0M507.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.38B$811.0M$853.0M$1.45B$2.27B$2.24B$1.84B$2.45B$2.68B$1.96B
Receivables $1.79B$1.97B$1.57B$1.77B$1.54B$601.0M$832.0M$812.0M$989.0M$1.36B
Inventory $336.0M$294.0M$249.0M$201.0M$114.0M—————
Total current assets $4.01B$3.43B$3.16B$3.89B$4.25B$3.26B$3.85B$4.44B$4.79B$3.77B
Property, plant and equipment $25.42B$25.01B$19.33B$18.11B$15.01B$5.39B$8.59B$8.46B$14.58B$14.28B
Goodwill $753.0M$753.0M$753.0M$753.0M$753.0M$753.0M$753.0M$753.0M$841.0M$2.38B
Other intangibles ————————$1.50B$1.62B
Total assets $31.60B$30.49B$24.49B$23.27B$21.02B$9.91B$13.72B$19.57B$30.24B$28.68B
Short-term debt $998.0M$485.0M$483.0M$251.0M$0——$162.0M$115.0M—
Total current liabilities $4.09B$3.31B$2.95B$3.10B$3.09B$1.44B$1.93B$2.23B$3.31B$2.62B
Long-term debt $7.39B$8.40B$5.67B$6.19B$6.48B$4.30B$4.29B$4.29B$6.75B$10.15B
Retained earnings $10.20B$8.17B$6.20B$4.30B$1.69B$208.0M$3.15B$3.65B$702.0M-$69.0M
Total equity $15.53B$14.50B$12.22B$11.30B$9.40B$3.02B$5.92B$9.19B$14.10B$12.72B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $6.71B$6.60B$6.54B$8.53B$4.90B$1.46B$2.04B$1.58B$1.24B$834.0M
Depreciation and amortisation $3.60B$3.25B$2.55B$2.22B$2.16B$1.30B$1.50B$1.23B$1.01B$1.59B
Stock-based compensation $99.0M$99.0M$93.0M$88.0M$99.0M$88.0M$115.0M$137.0M$126.0M$203.0M
Capital expenditure $3.59B$3.65B$3.88B$2.54B$1.99B$1.15B$1.91B$2.12B$44.0M$849.0M
Investing cash flow -$3.39B-$7.33B-$3.94B-$5.12B-$1.57B-$1.13B-$1.55B-$1.67B-$1.23B$787.0M
Financing cash flow -$2.73B$706.0M-$3.18B-$4.21B-$3.29B-$306.0M-$2.06B-$4.38B-$173.0M-$2.17B
Dividends paid —$937.0M$1.86B$3.38B$1.31B$257.0M$140.0M———
Buybacks $1.05B$1.06B$979.0M$718.0M$589.0M$38.0M$1.85B$2.96B$44.0M$28.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-067065.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -10B 0 10B 20B Revenue, FY2016: 2.8B Gross profit, FY2016: -49M Net income, FY2016: -1.1B Revenue, FY2017: 3.5B Gross profit, FY2017: -46M Net income, FY2017: 898M Revenue, FY2018: 8.4B Gross profit, FY2018: 4.1B Net income, FY2018: 3.1B Revenue, FY2019: 6.7B Gross profit, FY2019: 3.9B Net income, FY2019: -355M Revenue, FY2020: 4.7B Net income, FY2020: -2.7B Revenue, FY2021: 13.8B Net income, FY2021: 2.8B Revenue, FY2022: 19.8B Net income, FY2022: 6B Revenue, FY2023: 15.1B Net income, FY2023: 3.7B Revenue, FY2024: 15.9B Net income, FY2024: 2.9B Revenue, FY2025: 16.8B Net income, FY2025: 2.6B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.77B $3.51B $8.44B $6.67B $4.67B $13.75B $19.83B $15.14B $15.92B $16.79B
Gross profit -$49.0M -$46.0M $4.12B $3.86B — — — — — —
Net income -$1.06B $898.0M $3.06B -$355.0M -$2.68B $2.81B $6.03B $3.74B $2.89B $2.64B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event Item 8.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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